Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,614 people, 468 houses or apartments, and a median cost of homes of $659,044, New Market house prices are not only among the most expensive in Maryland, New Market real estate also is some of the most expensive in all of America.
New Market is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in New Market than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Market. Owner-occupied housing accounts for 94.44% of New Market's homes, and 73.85% have either three or four bedrooms, which is average sized relative to America.
New Market homes and real estate are some of the newest in America. 62.34% of New Market's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the New Market real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 17.99%), and before 1939 ( 17.57%). There's also some housing in New Market built between 1940-1969 ( 2.09%).
New Market's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Market during the period has been just 5.14%, which is lower than 80% of US communities.
Over the last year, New Market appreciation rates have trailed the rest of the nation. In the last twelve months, New Market's appreciation rate has been 4.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Market were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes New Market one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Maryland, our data show that New Market's latest annual appreciation rate is lower than 60% of the other cities and towns in Maryland.
$659,044
for Maryland
for nation
468
$3,586 / per month